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Bloomberg New Economy: America Needs a Chinese Sputnik

Then-Democratic presidential nominee Joe Biden disembarks at a campaign stop at Alliance Amtrak Station Sept. 30 in Alliance, Ohio. Biden was on a day-long rail trip across Ohio and Pennsylvania.

Then-Democratic presidential nominee Joe Biden disembarks at a campaign stop at Alliance Amtrak Station Sept. 30 in Alliance, Ohio. Biden was on a day-long rail trip across Ohio and Pennsylvania.

Photographer: Alex Wong/Getty Images North America
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In pushing Congress to approve his infrastructure spending plans, U.S. President Joe Biden has raised the threat of competition from China.

“If we don’t get moving, they are going to eat our lunch,” he told senators, citing Chinese railways and the country’s automotive plans. “They’re investing billions of dollars dealing with a whole range of issues that relate to transportation, the environment and a whole range of other things. We just have to step up.”